Castile Resources Limited (ASX: $CST) Quarterly Activities Report

Castile Resources Limited (ASX: $CST) has made significant progress in the development of the Rover 1 Project and the establishment of a critical minerals processing precinct in Darwin. The company ended the quarter with a cash position of approximately $2.43 million on 30 June 2024. Castile is engaged in the development of a $2 billion purpose-built critical mineral and renewable energy production hub in the Middle Arm Sustainable Development Precinct (MASDP) in Darwin, focusing on gold, copper, and cobalt production.

Executive Commentary on Developments

The Northern Territory Land Development Corporation has engaged with Castile on 10 hectares of land in the MASDP, providing significant commercial, environmental, and human resources benefits. The facility will produce downstream gold, copper, and cobalt as end-user metals, positioning Castile as one of the few processing plants in Australia capable of producing downstream copper cathode. Additionally, the company has been awarded a co-funding exploration grant totaling $95,540 from the Northern Territory Government's Geophysics Survey Drilling Collaborations program, demonstrating the government's support for Castile's exploration efforts.

Summary of Quarterly Activities and Outlook

Castile Resources Limited (ASX: $CST) has made substantial advancements in its development strategy, with the engagement of the Northern Territory Land Development Corporation for the MASDP facility and the approval of a co-funding exploration grant. The company's cash position of approximately $2.43 million provides a solid foundation for its ongoing activities. The establishment of the critical minerals processing precinct in Darwin and the exploration grant reflect Castile's commitment to sustainable development and its efforts to contribute to Australia's critical minerals production. The company's ambitions to produce downstream gold, copper, and cobalt, as well as its plans for the Rover 1 Project, demonstrate its focus on diversifying revenue streams and contributing to the local and national economy. Castile's engagement with various government departments and its ongoing corporate and government relationships position the company for continued growth and development in the critical minerals sector.